Timor-Leste Budget Transparency Portal

Glossary

Amount paid to employees as part of their salary package to pay out of pocket expenses incurred on behalf of the employer.

Budget

A list of all planned expenses and revenues.

Capital Reserves

The main idea behind a capital reserve fund is to set aside assets that are outside the usual operating budget, and can be used to offset expenses with projects that must be funded at least partially outside the operating budget. For example, a municipality may want to build a new city hall. If funds are not set aside in the budget to begin preparation for this activity, then the proceeds from a capital reserve may be withdrawn to manage the costs of preparing a tract of land for the new building.

Cash balance

An account balance that represents cash alone, as distinct from an account balance that includes money owed but as yet unpaid

Category

The classification of the government that contains the object in which the money is earned or spent.

A current asset is an asset which is expected to be sold or otherwise used up in the near future, usually within one year, or one operating cycle whichever is longer. Typical current assets include cash, cash equivalents, accounts receivable, inventory, the portion of prepaid accounts which will be used within a year, and short-term investments.

Current Liabilities

A balance sheet item which equals the sum of all money owed by the government and due within one year. It is also called payables or current debt.

Cash disbursements and liabilities incurred for the cost of goods delivered or services rendered

Expense

Government spending

Fiscal period

The length of time for which the government summarizes and reports financial information

Fund source

The classification of the government that determines the origin of the earned and spent money

Government units

Government units are institutional units that carry out the functions of government as their primary activity. That is, they have legislative, judicial, or executive authority over other institutional units within a given area;they assume responsibility for the provision of goods and services to the community as a whole or to individual households on a nonmarket basis;they make transfer payments to redistribute income and wealth;and they finance their activities, directly or indirectly, mainly by means of taxes and other compulsory transfers from units in other sectors. All government units are members of the general government sector.

Ministry

A governmental department presided over by a minister

National Parliament

Is a legislative body. While all parliaments are legislatures, not all legislatures are parliaments.

Non Tax Revenue

Government income not due to taxation

Obligations

Obligations are amounts of orders placed, contracts awarded, services received, grants and subsidies payable, loan agreements, interagency agreements, and similar transactions corresponding to needs existing during a given period that will require payments during the same or a future period and that comply with applicable laws and regulations.

Operational Expenses

Cash expenses paid by an organization in return for goods or services

Overtime

Work performed by an employee or worker in excess of a basic workday (typically 8 hours a day, 5 days a week) as defined by Government rules, job contract, statute, or union (collective) agreement.

Revenue

Governments acquire the resources to finance their expenditures through a number of different methods. This includes taxation, raising funds through the sale of their goods and services, and through borrowing.

Salary

Agreed-upon and regular payment for employment. A salary is commonly paid fortnightly or monthly.

Sub-Program

The classification of the government that determines the activities, programs and projects in which financial resources are spent or earned.